Barclays Reiterates an 'Overweight' on Google (GOOG); Branded Tablet On Deck?

Barclays reiterates an 'Overweight' on Google (NASDAQ: GOOG) price target of $750.00.

Analyst, Anthony DiClemente, said, "We believe Google will soon announce its own branded tablet, employing Chrome as its browser. Android's presence in tablets is minimal as the iPad currently owns ~95% of all tablet traffic (Chitika). We believe GOOG pays Apple (Nasdaq: AAPL) a significant amount in TAC for tablet traffic, and expect this amount to grow as tablets could reach 10% of total Web traffic by 2014 (Adobe (Nasdaq: ADBE)), though this could be partially offset if GOOG were to launch a Chrome app for iOS. In our view, if a Google tablet using Chrome was to become a significant player in the tablet space and take material share from the iPad, it could help meaningfully lower Google mobile TAC longer term."

For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.

Shares of Google closed at $580.86 yesterday.

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